IPO-bound Fincare Small Finance Bank is a new-age bank with a Digital-first DNA. It offers its modern banking services through banking outlets, ATM, WhatsApp, Mobile and Internet Banking and BOTs.
The bank aims to transform banking for its customers through simple products, automated processes and instant decisions and transactions. Powered by technology, Fincare SFB, on the one hand, caters to the banking needs of micro-entrepreneurs as well as micro enterprises, enabling their financial inclusion, and on the other hand, provides modern and innovative banking services to the digitally-savvy, metro, and urban customers.
Sathyanarayana attained his master’s degree in computer application (MCA) from Christ University in Bangalore and began his career as a Software Engineer with PSI Data Systems in 1999. He spent ten years with Infosys Technologies in the core banking product vertical before joining Capgemini in 2015.
He has over 21 years of experience leading large-scale digital transformations, portfolio management, profit and loss management, digital services solutions, Digital Strategy & Roadmap set-up, global service assurance, cost optimization initiatives, business development, product lifecycle and service delivery management among other skills.
Speaking on the appointment Nilesh Sangoi, Chief Information Officer, Fincare Small Finance Bank said, “Given the vast domain experience that Srinath bring to the table, I am confident that he will play a value-adding role in supporting the growth journey of the Bank. He carries deep tech-knowledge and insights that are aligned to the bank’s digital orientation. We welcome him and wish him all the success in his role.”
As of 30th June 2021, Fincare Small Finance Bank’s Gross Loans Portfolio was ₹ 6010 Crores, with total deposits of ₹5629 Crores. The net profit stood at ₹17.30 Crores with Capital adequacy ratio (CRAR) at 33%. As of 30th June 2021, the bank serves over 29 Lakh customers in 19 States/UT and has a workforce of over 9,800. In May 2021, Fincare SFB submitted preliminary paperwork to SEBI for its Initial Public Offering (IPO).